Aduro Clean Technologies Reports Third Quarter Fiscal 2026 Results and Provides Business Update
LONDON, Ontario, April 15, 2026 – Aduro Clean Technologies Inc., a clean technology company specializing in converting lower-value feedstocks such as waste plastics, heavy bitumen, and renewable oils into valuable resources for the modern era, has announced the filing of its interim condensed consolidated financial results for the three and nine months ended February 28, 2026. The company, listed on Nasdaq under ADUR, the CSE as ACT, and the FSE as 9D5, provided key highlights from the period, with all financial figures reported in Canadian dollars unless otherwise specified.
Operational Progress and Strategic Milestones
During the third fiscal quarter of 2026, Aduro continued to advance its scale-up and commercialization efforts across multiple programs. Ofer Vicus, Chief Executive Officer of Aduro, emphasized the significance of transitioning the Next Generation Process pilot plant into operating campaigns. "This marks a crucial step forward, moving the company from system readiness to active process operation," Vicus stated. "This phase allows for the generation of integrated operating data, evaluation of real-world feedstocks, and refinement of process conditions under continuous operation."
In parallel, the company progressed its First-of-a-Kind industrial program following site selection at Chemelot. Commercialization activities were also advanced through partner engagement, downstream validation efforts, and early steps toward establishing a licensing package. Vicus noted that these elements are increasingly interconnected, with pilot operations, engineering development, and market engagement mutually informing one another as the company moves toward industrial deployment.
Financial Highlights and Capital Allocation
Mena Beshay, Chief Financial Officer of Aduro, highlighted the company's disciplined focus on capital allocation aligned with core execution priorities. "The completion of the U.S. public offering in December 2025 and subsequent exercise of the over-allotment option in January 2026 strengthened the company's financial position," Beshay said. "This provides flexibility to support NGP pilot plant operations, FOAK project development, and ongoing commercialization initiatives."
The financial results for the third quarter fiscal 2026 revealed several key points:
- Revenue: Quarterly revenue for Q3 2026 was nil, compared to $63,399 in Q3 2025. Year-to-date revenue for the nine months ending February 28, 2026, was $167,206, a net increase of 7% compared to $156,542 for the same period in 2025. Revenue is earned through Customer Engagement Programs for technology evaluation and collaboration work, which is non-recurring and varies with project timing and scope.
- Loss from Operations: Loss from operations was $1,628,916 for Q3 2026, compared to $2,851,772 for Q3 2025. Year-to-date loss for the nine months ending February 28, 2026, was $14,415,921, up from $8,429,016 in the prior year. This increase was driven by higher non-cash share-based compensation, a non-cash loss from revaluation of derivative financial liability, increased research and development activities, hiring of additional employees, marketing expenditures, and costs associated with the Nasdaq listing.
- Adjusted EBITDA: Adjusted EBITDA was $(2,772,463) for Q3 2026, compared to $(1,840,271) for Q3 2025. Year-to-date adjusted EBITDA for the nine months ending February 28, 2026, was $(8,325,873), versus $(5,474,769) in the prior year.
- Property, Plant, and Equipment: The carrying value of property, plant, and equipment was $9.6 million as of February 28, 2026, up from $5.1 million at Q4 2025, primarily due to the construction of the NGP pilot plant.
- Cash Position: The company strengthened its cash position to $39.42 million as of February 28, 2026, compared to $6.96 million in Q4 2025. This increase was largely driven by the U.S. public offering, which generated net cash proceeds of $28.74 million in Q3 FY2026.
Looking Ahead
Aduro Clean Technologies remains focused on leveraging its chemistry-based technology to transform waste materials into sustainable resources. With the NGP pilot plant now operational and financial resources bolstered, the company is poised to continue its path toward commercialization and industrial deployment in the clean technology sector.
